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April 29, 2017, 05:42:55 PM |
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theres three base markets - POSW, BTC, and DASH. each market has, like other exchanges, base pairs listed to trade coinA against COINb. for our example click the first one that shows in the exchange menu under "exchange markets" - the 1337-POSW market.
this will bring up the market page which features the market graph and then the two market boxes below that "BUY 1337" and "SELL 1337"
if you wanted to purchase the top order for sale (presently nearly 400,000 1337coins for 0.00003185 POSW each - which presents a total of 12.72etc. POSW for the whole order) just click on the price in POSW and the proper information will populate in both the BUY and SELL windows. same thing if you had a balance of 1337 active in the exchange (not in your staking wallet) that you wanted to see to fill the order on the BUY line, just click on the price in POSW and then, if your balance in 1337 was not sufficient to fill the whole order, click on your balance in 1337 to adjust the parameter in the box to sell your 1337.
if you want to put in a buy order, just remember that its based in POSW as the base market, so the easiest way to decypher its value in BTC is to check the current average value of POSW and multiply it by the unit price, which will return you the value in satoshis. you have to be responsible to watch the market value of POSW and if you leave orders open on the market, understand that the order value (in effective satoshis) will adjust as the price of POSW adjusts.
at present value, the top sell order for 1337 is 0.00003185 POSW each. at a POSW-value of 9750 satoshi, this means the peson selling their 1337 is asking (9750*.00003185)= 0.3105375 satoshi ... about 1/3rd of a satoshi, whereas the highest purchase bid of 0.00002540 POSW yields an effective rate of 0.24765 satoshi... just under a quarter of a satoshi. coinmarketcap gives an average valuation of 3.348e-9 BTC which is .3348 of a satoshi, about the sell rate on POSW.
to look at one less confusing than having to deal with fractions of satoshis, try ATOM. lowest sell order price is 0.42999776 POSW per ATOM (effectively 4192.478 satoshi) and the highest buy order price is 0.20007778 POSW per ATOM (effectively 1950.758 satoshi). the average market valuation for ATOM on coinmarketcap is 2493 satoshi.
if the price of POSW jumped over a short period of time again to 20000 satoshi, that would effectively double the value in satoshi of the orders on the market, so that the effective rate for the top buy order for ATOM would go from 1950 satoshi to 4001 satoshi, so diligence is key, as it always is when you investing in crypto.
bear in mind, the front end of the exchange is fairly young, and the team at poswallet will naturally be updating it, but if you look at their very agressive roadmap, you can see that although this is a newly emerging exchange, they have a lot of plans to make it a very strong representative exchange for POS and Hybrid cryptocurrency projects. ive been using it for several months to stake, and have been active on the exchange since its public opening last month, and while it takes some getting used to, and theres necessary features that need implementation, ive spoken at great deal on the slack channel for POSW with their support and admin staff and they have plans to implement a lot of the suggestions that have come up, but that many of those items (a page showing ones active orders with the ability to cancel them from there rather than having to go to each market page, a "max" button on the wallet page for moving whole wallet balances from exchange to staking and vice versa, etc) take a bit of time to encode and test and then release, but that their to-do list is ever growing and theyre looking at staffing options to increase their staff to provide better service.
give them a chance, theyre much more approachable as administrative staff than any of the other exchanges ive dealt with, and remember to give them that little bit of leeway as poswallet's exchange itself is still very new, and will naturally be subject to constant improvements as time unfolds. hope to see you in the trollbox sometime!
~abvhiael
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